Body and Mind - CEO, Michael Mills
CEO, Michael Mills
Source: Youtube (Capital 10X)
  • Cannabis company, Body and Mind (CSE:BAMM) and Comprehensive Care Group have opened a dispensary in West Memphis, Arkansas
  • Sales of legal medical cannabis in Arkansas started in May 2019, under specific qualifying conditions 
  • The Arkansas facility accommodates both dispensary and cannabis cultivation operations
  • Body and Mind also recently completed the transaction for its ShowGrow dispensary in San Diego, which opened two weeks ago
  • Body and Mind’s share price is up 1.60 per cent, and is currently trading for $0.49 per share

Cannabis company, Body and Mind (CSE:BAMM) and Comprehensive Care Group have opened a dispensary in West Memphis, Arkansas.

The dispensary, which is near the Arkansas-Tennessee border, is the 22nd dispensary to open in the state. A total of 33 licensed dispensaries have gained Arkansas’ approval since legal medical cannabis sales started there in May 2019.

While Arkansas now allows the sale of medical cannabis, the state has numerous criteria which its medical patients must meet. Patients must be 18 years of age or older, or have parental consent if they are underage. Patients must have a current diagnosis of a qualifying condition, and an official written certification from a physician.

The list of qualifying conditions for medical cannabis patients includes cancer, glaucoma, Hepatitis C, Amyotrophic Lateral Sclerosis (ALS), and Fibromyalgia. It also includes Tourette’s syndrome, Crohn’s disease, ulcerative colitis, PTSD, severe arthritis, Alzheimer’s disease, and positive HIV/AIDS status.

Patients may also qualify if they have a chronic or debilitating disease/medical condition/treatment that causes certain symptoms or side effects. These symptoms may include cachexia (wasting syndrome), intractable pain, seizures, severe nausea, peripheral neuropathy, or severe/persistent muscle spasms. The list also includes any other medical condition or treatment approved by the Arkansas Board of Health.

While the criteria includes being an Arkansas resident with proof of residency, Arkansas allows out-of-state visitors to apply for a temporary medical card. This would allow those who are visiting the state to continue managing their medical needs at dispensaries.

Body and Mind’s Interim CEO, Michael Mills, called the dispensary opening the culmination of years of work. 

“The BaM team has done an admirable job designing and building the facility in West Memphis. Opening our second dispensary in two weeks is anticipated to add meaningful revenue to the company as we continue to execute on our debt-free growth strategy.

“The Arkansas facility is designed for both dispensary and cultivation operations, and is consistent with the strategy of bringing BaM’s experience to limited license states and expanding brand awareness.

“I’m extremely proud of our team for completing this project during these challenging conditions, and look forward to advancing the cultivation operations later this year. The management and team in Arkansas are following health safety protocols, cleaning regimes, and social distancing protocols to provide a safe environment for both employees and patients. We look forward to welcoming new patients and serving in a safe, clean, and supportive environment,” Michael said. 

In other news, Body and Mind has also completed the transaction for its ShowGrow cannabis dispensary in San Diego. Two weeks ago, the company opened that dispensary, which has seen significant increases in online orders since then.

Body and Mind’s share price is up 1.60 per cent, and trading for $0.49 per share, as of 12:22pm EST.

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